Tensor-polarized structure functions of a spin-1 hadron are additional observables which do not exist for the spin-1/2 nucleon. They could probe novel aspects of the internal hadron structure. Twist-2 tensor-polarized structure functions are $b_1$ and $b_2$, and they are related by the Callan-Gross-like relation in the Bjorken scaling limit. In this work, we theoretically calculate $b_1$ in the standard convolution description for the deuteron. Two different theoretical models, a basic convolution description and a virtual nucleon approximation, are used for calculating $b_1$ and their results are compared with the HERMES measurement. We found large differences between our theoretical results and the data. Although there is still room to improve by considering higher-twist effects and in the experimental extraction of $b_1$ from the spin asymmetry $A_{zz}$, there is a possibility that the large differences require physics beyond the standard deuteron model for their interpretation. Future $b_1$ studies could shed light on a new field of hadron physics. In particular, detailed experimental studies of $b_1$ will start soon at the Thomas Jefferson National Accelerator Facility. In addition, there are possibilities to investigate tensor-polarized parton distribution functions and $b_1$ at Fermi National Accelerator Laboratory and a future electron-ion collider. Therefore, further theoretical studies are needed for understanding the tensor structure of the spin-1 deuteron, including a new mechanism to explain the large differences between the current data and our theoretical results., Comment: 12 pages, 7 eps figures, 3 style files, typos are corrected as published in Phys. Rev. D 95, 074036 (2017)