I understand that this is a fairly subjective question, so let me provide a little bit of background.
I am trying to set up a easy to use panel with a couple of buttons to make digitizing old vinyl albums easier. I have a small linux computer that is connected by USB to my turntable. The goal is that the buttons are used to start, stop, and save audio recordings, so that a full laptop/desktop does not need to be connected to the turntable at all times. Afterwords, the audio file will be imported into audacity (or a simmilar program), where it can be broken apart into tracks, noise can be removed, etc.
My question (after that longer than planned background), is what would be the best format for the recording system to store audio in, prior to importing into audio editing software. The main goal is to minimize loss of quality.