Copyright question

I know that under copyright laws I am allowed to ‘back up’ my purchased recordings for my personal use. So if I have an LP, I can record it to tape or to a digital file. So far, so good.

But what if I purchased a record or tape and I want to ‘back it up’ onto a digital file? Obviously I could buy the equipment to do it, or else hire someone to do it. But suppose I could borrow a CD of the recording that I have already legitimately bought? Since I have ‘the album’, can I legally copy the music from a CD?

There isn’t much express law on this specific point, but very generally speaking, you can’t make a backup copy from an item that doesn’t belong to you. You can make a backup from your own LP but not from someone else’s CD.