Yes, it is very easily accomplished. You must make sure the "Waveclassic driver" is selected in the preferences. When you arm a track for record, there is a routing button where it will drop down all your soundcards inputs and you can select which one you want to record from. Note the track must be armed for Record to set the input. I usually set up tracks and assign their inputs prior to recording. In other words, if I have 8 inputs I make 8 tracks with each input already assigned, so alls I have to do is arm the track and record. Most sound cards are assigned in stereo pairs (ie input 1/2, 3/4...etc.) In Vegas you select the input 1/2, and then it also has an option to select "Right,Left, or stereo" depending if you want to record Mono or Stereo.