SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

Commission File Number 033-70814-01

FORM 10-K

Mark One

[X]	ANNUAL REPORT PURSUANT TO SECTION 13 OF THE SECURITIES EXCHANGE
    ACT OF 	1934

For the Fiscal Year Ended December 31, 1997

OR

[ ]	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
   	EXCHANGE ACT OF 1934

DEUTSCHE FLOORPLAN RECEIVABLES MASTER TRUST

State of Organization - New York
I.R.S. Employer Identification Number - 13-7031011

Principal Executive Offices
c\o The Chase Manhattan Bank
450 W. 33rd Street
New York, NY 10001
Telephone Number:  (212) 270-6000

Securities registered pursuant to Section 12(b) of the Act: None
Securities registered pursuant to Section 12(g) of the Act: None

Indicate by a check mark whether the Registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act
1934 during the preceding 12 months, and (2) has been subject to such filing 
requirements for the past 90 days.  Yes  X    No ___.

Indicate by check mark if disclosure of delinquent filers pursuant to Item 
405 of Regulation S-K is not contained herein, and will not be contained, to 
the best of Registrant's knowledge, in definitive proxy or information 
statements incorporated by reference in Part III of this Form 10-K or any 
amendment to this Form 10-K.  [X].

As of March 16, 1998 the Registrant was a Grantor Trust originated by 
Deutsche Floorplan Receivables, L.P., which is controlled by Deutsche 
Floorplan Receivables, Inc., a Nevada corporation.

TABLE OF CONTENTS

PART		ITEM

  I
   		 1.		     Business
		    2. **
		    3. *		   Legal Proceedings
		    4. *		   Submission of Matters to a Vote of Security Holders					   	
 II		 
      5. *		   Market for Registrant's Common Equity and Related
          					Stockholder Matters
		    6. **
		    7. **
		    8. **
		    9. **
 III		
     10. **
		   11. **
		   12. **
		   13. **
 IV		
     14. *		   Exhibits, Financial Statements, Schedules	and Reports
           				on Form 8-K
	
	           			Signatures
				           Exhibit Index

* Item prepared in compliance with Exemption Request Letters of 
April 25, 1994 and June 30, 1994 as provided in the July 1, 1994 response 
letter from the Office of Chief Counsel, Division of Corporate Finance, 
United States Securities and Exchange Commission, addressed to Registrant as 
ITT Floorplan Receivables, L.P., which name was changed to Deutsche Floorplan 
Receivables, L.P.

** Omitted pursuant to Exemption Request Letters noted in previous [*] 
footnotes.

PART I

Item 1.
Business.

The Registrant is a Grantor Trust created by Deutsche Floorplan Receivables, 
L.P., a limited purpose partnership ("Partnership") formerly known as 
ITT Floorplan Receivables, L.P.

Item 3.
Legal Proceedings.* 

None

Item 4.
Submission of Matters to a Vote of Security Holders.*

None

PART II

Item 5.
Market for Registrant's Common Equity and Related Stockholder Matters.*

Registrant, on behalf of the Partnership reports that as of December 31, 1997 
the Trust had $2,031,747,000.00 of such certificates outstanding bearing 
identifications as follows:

Floating Rate Asset Backed Certificates, Series 1994-1 aggregating
   	 $1,000,000,000.00
Floating Rate Asset Backed Certificates, Series 1996-1 Class A aggregating 	
     $1,000,000,000.00
Floating Rate Asset Backed Certificates, Series 1996-1 Class B aggregating
    	$   31,747,000.00
Total  Outstanding
	    $2,031,747,000.00

Each series of Asset Backed Certificates is held by one (1) registered holder 
and none of the outstanding series has a  principal market.

PART IV

Item 14.
Exhibits, Financial Statement Schedules, and Reports on Form 8-K.*

(a) Financial Statements.

The Registrant includes as exhibits hereto the Annual Accountant's Statement 
with respect to all series of Certificates issued and outstanding by Deutsche 
Floorplan Receivables Master Trust.

(b) Reports on Form 8-K.

The Partnership has filed reports on Form 8-K for each month commencing 
January 1997 and ending December 1997 reporting Item 5.  Other Events and 
including therewith as an exhibit, the Distribution Date Statement for the 
prior month's Collection Period with respect to (i)the Series 1994-1 
Certificates, (ii) the Series 1996-1, Class A Certificates, and (iii) the 
Series 1996-1, Class B Certificates, all of which remain issued and 
outstanding by Deutsche Floorplan Receivables Master Trust.

In addition, under Item 5. Other Events, the Partnership reported in Form 8-K, 
certain specified distributions to Certificateholders made during such month.  
Included with each Form 8-K, the Partnership filed as exhibits thereto copies 
of the monthly Certificateholders' Statements required for such distributions.

SIGNATURES

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 
1934, the Registrant has duly caused this report to be signed on its behalf 
by the undersigned, thereunto duly authorized.

DEUTSCHE FLOORPLAN RECEIVABLES MASTER TRUST

By:  	Deutsche Floorplan Receivables, L.P.

By:  	Deutsche Floorplan Receivables, Inc.
     	Its General Partner

By:  	/s/ Richard H. Schumacher
     	(Richard H. Schumacher)
	     President and Treasurer

     	March 25, 1998

Pursuant to the requirements of the Securities Exchange Act of 1934, this 
report has been signed by the following persons on behalf of the Registrant 
and in the capacities and on the dates indicated.

Signature/Title					                      Date

/s/ George J. Solovic				                 March 25, 1998	
(George J. Solovic)	
Senior Vice President & Controller
Deutsche Floorplan Receivables, Inc.,
General Partner 

/s/ Richard C. Goldman				                March 27, 1998
(Richard C. Goldman)
Director
Deutsche Floorplan Receivables, Inc.,
General Partner

/s/ C. Don Brown					                     March 27, 1998		
(C. Don Brown)			
Director
Deutsche Floorplan Receivables, Inc.,
General Partner

/s/ Phil Stout					                       March 27, 1998	
(Phil Stout)			
Director
Deutsche Floorplan Receivables, Inc.,
General Partner

EXHIBIT INDEX

							                                      Incorporated by reference to
Exhibit						                                Exhibit in Registration Statement
Number		Title				                            Number 333-10943

 2	     Plan of acquisition, reorganization,		
       	arrangement, liquidation or succession		     Not Applicable

 3	     Articles of Incorporation and By Laws		      Not Applicable
		
 4	     Instruments defining the rights of security
	       holders, including indentures				            Exhibits 4.1 & 4.2

 9	     Voting trust agreements					                 Not Applicable

10	     Material Contracts					                      Exhibit 10.1

11	     Statement re computation of
	       per share earnings				                       Not Applicable

12	     Statement re computation of ratios			        Not Applicable

13	     Annual report of security holders,
       	Form 10-Q or quarterly reports
       	to security holders					                     None

16	     Letter re change in certifying accountant		  None

18	     Letter re changes in accounting
	       principles							                            None

21	     Subsidiaries of Registrant				               Not Applicable

22	     Published report regarding matters
	       submitted to vote of security holders		      None

23	     Consents of experts and counsel			           Not Applicable

24	     Power of attorney						                      Not Applicable

27	     Financial Data Schedule					                 Not Applicable

99	     Additional Exhibits					
	       (i) Accountants' Annual Report			            Filed Herewith