UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-K

                Annual Report Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934

For the fiscal year ended:  December 29, 2000  Commission file number:  0-25567
                            -----------------                           -------

               CSX Trade Receivables Corporation on behalf of the
                       CSXT Trade Receivables Master Trust
          (Issuer in respect of the CSXT Trade Receivables Master Trust
       6.00% Trade Receivables Participation Certificates, Series 1998-1)
       ------------------------------------------------------------------
             (Exact name of registrant as specified in its charter)

              Delaware                               59-3168541
              --------                               ----------
   (State or other jurisdiction of                (I.R.S. Employer
   incorporation or organization)                Identification No.)

              Route 688
            P. O. Box 87
          Doswell, Virginia                             23047
          -----------------                             -----
(Address of principal executive offices)              (Zip Code)

       Registrant's telephone number, including area code: (804) 876-3220
                                                           --------------

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

Securities registered pursuant to Section 12(g) of the Act:

        CSXT Trade Receivables Master Trust 6.00% Trade Receivables
        Participation Certificates, Series 1998-1

Indicate by 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 of 1934 during
the  preceding 12 months (or for such  shorter  period that the  registrant  was
required  to file  such  reports),  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)

State the aggregate market value of the voting stock held by  non-affiliates  of
the Registrant. Not Applicable.


<PAGE>

                                     PART I
                                     ------

Item 1.   Business.

          Omitted  pursuant  to a  no-action  letter  dated  February  4,  1994
(the "No-Action  Letter"),  issued by the Commission staff with respect to
certain of the Registrant's  reporting  requirements pursuant to Section 13 or
15(d) of the Act.

Item 2.   Properties.

          Pursuant to the No-Action Letter,  reference is made to the Annual
Certificates of Servicer referred to in Items 8 and 14 hereof.


Item 3.   Legal Proceedings.

          New Orleans Tank Car Fire

     In September 1997, a state court jury in New Orleans,  Louisiana returned a
$2.5 billion punitive damages award against CSX Transportation, Inc. (CSXT). The
award was made in a class-action lawsuit against a group of nine companies based
on  personal  injuries  alleged to have  arisen  from a 1987 fire.  The fire was
caused by a leaking  chemical tank car parked on CSXT tracks and resulted in the
36-hour  evacuation of a New Orleans  neighborhood.  In the same case, the court
awarded  a group of 20  plaintiffs  compensatory  damages  of  approximately  $2
million  against the  defendants,  including CSXT, to which the jury assigned 15
percent of the  responsibility  for the incident.  CSXT's  liability  under that
compensatory damages award is not material, and adequate provision has been made
for the award.

     In October 1997, the Louisiana Supreme Court set aside the punitive damages
judgment,  ruling the judgment  should not have been entered until all liability
issues were resolved.  In February  1999,  the Louisiana  Supreme Court issued a
further  decision,   authorizing  and  instructing  the  trial  court  to  enter
individual  punitive  damages  judgments in favor of the 20  plaintiffs  who had
received awards of compensatory  damages, in amounts representing an appropriate
share of the jury's  award.  The trial court on April 8, 1999  entered  judgment
awarding approximately $2 million in compensatory damages and approximately $8.5
million in punitive damages to those 20 plaintiffs.  Approximately  $6.2 million
of the punitive  damages  awarded were assessed  against  CSXT.  CSXT then filed
post-trial motions for a new trial and for judgment  notwithstanding the verdict
as to the April 8 judgment.

     The new trial  motion  was  denied by the trial  court in August  1999.  On
November 5, 1999,  the trial court issued an opinion that granted  CSXT's motion
for judgment  notwithstanding  the verdict and effectively reduced the amount of
the punitive damages verdict from $2.5 billion to $850 million. The compensatory
damages awarded by the jury in the 1997 trial were also substantially reduced by
the trial  judge.  A judgment reflecting the $850 million punitive  award has
been entered  against CSXT.  CSXT  believes  that this  amount (or any amount of
punitive damages) is unwarranted  and intends to pursue its full appellate
remedies with respect to the 1997 trial as well as the trial  judge's  decision
on the motion for judgment notwithstanding the verdict.   CSXT has obtained and
posted an appeal  bond in the  amount of $895  million,  which will allow it to
appeal the 1997 compensatory and punitive awards, as reduced by the trial judge.

     A trial for the claims of 20 additional plaintiffs for compensatory damages
began on May 24, 1999. In July 1999,  the jury in that trial  rendered  verdicts
totaling  approximately  $330  thousand  in favor of  eighteen  of those  twenty
plaintiffs.  Two plaintiffs received nothing;  that is, the jury found that they
had not proved any damages.  Management  believes that this result,  while still
excessive,  supports  CSXT's  contention  that the  punitive  damages  award was
unwarranted.

                                      -2-

<PAGE>


     In  1999,  six of the  nine  defendants  in the case  reached  a  tentative
settlement  with  the  plaintiffs  group.  The  basis of that  settlement  is an
agreement that all claims for  compensatory and punitive damages against the six
defendants would be compromised for the sum of $215 million. That settlement was
approved by the trial court in early 2000.

     Recently, the City of New Orleans was granted permission by the trial court
to assert an amended claim against CSXT,  including a newly  asserted  claim for
punitive damages.  The City's case was originally filed in 1988, and while based
on the 1987 tank car fire, is not considered to be part of the class action.

     Oral argument in the Louisiana  Court of Appeal for the Fourth Circuit with
regard to CSXT's  appeal was held on January 12, 2001. A ruling is expected some
time this year. Any review beyond that court is by discretionary writ.

     CSXT continues to pursue an aggressive legal strategy. At the present time,
management is not in a position to determine whether the resolution of this case
will have a material adverse effect on the CSXT's financial  position or results
of operations in any future reporting period.

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

          None.

                                      -3-

<PAGE>


                                     PART II
                                     -------

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

          (a)  To the best knowledge of the Registrant,  there is no established
               public trading market for the CSX Trade Receivables Master Trust
               6.00% Trade Receivables  Participation  Certificates,  Series
               1998-1 (the "Certificates").

          (b)  The  Certificates are represented by one or more  certificates
               registered in the name of Cede & Co. ("Cede"), the nominee of
               The Depository Trust Company ("DTC").

          (c)  Omitted pursuant to the No-Action Letter.


Item 6.   Selected Financial Data.

          Omitted pursuant to the No-Action Letter.


Item 7.   Management's Discussion and Analysis of Financial Condition and
          Results of Operation.

          Omitted pursuant to the No-Action Letter.


Item 8.   Financial Statements and Supplementary Data.

     CSXT,  as servicer (in such  capacity,  the  "Servicer")  has delivered the
Annual  Certificate  of  Servicer  to the  Trustee,  a copy of which is attached
hereto as Exhibit 99.1. The certificate was provided pursuant to Section 3.06 of
the Amended and Restated Pooling and Servicing Agreement dated as of October 27,
1993, as such Agreement has been amended and supplemented (the "Agreement").

     Pursuant to Section 3.07 of the Agreement,  Ernst & Young LLP has furnished
a report on management's assertion regarding the compliance of the Servicer with
certain  terms  and  conditions  in  the  Agreement  and on  the  comparison  of
mathematical  calculations  of  amounts  set  forth  in the  Certificateholders'
Distribution Date Statements with the Servicer's computer records,  with respect
to the Certificates. A copy of the report is attached hereto as Exhibits 99.2.

Item 9.   Changes in and Disagreements with Accountants on Accounting and
          Financial Disclosure.

          None.

                                      -4-
<PAGE>


                                    PART III
                                    --------

Item 10.  Directors, Executive Officers, Promoters and Control Persons of the
          Registrant.

          Omitted pursuant to the No-Action Letter.


Item 11.  Executive Compensation.

          Omitted pursuant to the No-Action Letter.

Item 12.  Security Ownership of Certain Beneficial Owners and Management.

          (a)  As of December 29, 2000:

<TABLE>
<CAPTION>

                                                                       Amount and
                                                                       Nature of
                                               Name and Address of     Beneficial    Percent
 Note                  Security                  Beneficial Owner      Ownership     of Class
--------  -----------------------------------  ---------------------  -------------  ---------
<S>       <C>                                  <C>                    <C>            <C>
  (1)     6.00% Trade Receivables              Cede & Co.                 100%         100%
          Participation Certificates,          c/o The Depository      Nominee of
          Series 1998-1                            Trust Company          The
                                               55 Water Street         Depository
                                                New York, NY 10041       Trust
                                                                        Company
</TABLE>


(1) The  Certificates are represented by one or more  certificates  registered
    in the name of Cede, the nominee of  DTC.  An  investor  holding  an
    interest  in the  Trust  is not  entitled  to  receive  a  certificate
    representing  such  interest  except in  limited  circumstances.
    Accordingly,  Cede is the sole  holder of record  of  Certificates,  which
    it  holds  on  behalf  of  brokers,  dealers,  banks,  and  other  direct
    participants in the DTC system.  Such direct  participants may hold
    Certificates for their own accounts or for the accounts of their customers.

          (b)  Omitted pursuant to the No-Action Letter.

          (c)  Omitted pursuant to the No-Action Letter.


Item 13.  Certain Relationships and Related Transactions.

     There have not been, and there are not currently proposed, any transactions
or series of transactions, to which either the Registrant, CSXT, as Servicer, or
the Trustee, on behalf of the Trust, is a party with any  Certificateholder  who
owns of record or  beneficially  more than  five  percent  of the  Certificates.
Information  regarding servicing  compensation  received by CSXT is set forth in
the  Certificateholders'  Distribution  Date  Statements  filed on Form 8-K,  as
referenced under Item 14 hereof.

                                      -5-

<PAGE>


                                     PART IV
                                     -------

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

          (a)  Exhibits.

                  24.1    Powers of Attorney of Messrs.  Baggs, Boor, Goolsby,
                          and Grandis as Directors and/or Officers of CSX Trade
                          Receivables Corporation.

                  99.1    Annual  Certificate  of Servicer  with respect to the
                          CSXT Trade  Receivables  Master Trust 6.00% Trade
                          Receivables Participation Certificates,  Series
                          1998-1, prepared by CSXT pursuant to Section 3.06 of
                          the Agreement.

                  99.2    Report of  independent  auditors  with respect to the
                          CSXT Trade  Receivables  Master Trust 6.00% Trade
                          Receivables Participation Certificates,  Series
                          1998-1, prepared by Ernst & Young LLP pursuant to
                          Section 3.07 of the Agreement.


(b)       Reports on Form 8-K.

               Date of Form 8-K          Description of Form 8-K
               ----------------          -----------------------

               January 25, 2000         Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        January 25, 2000 for the CSXT Trade
                                        Receivables  Master  Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               February 25, 2000        Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        February 25, 2000 for the CSXT Trade
                                        Receivables  Master Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               March 27, 2000           Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        March 27,  2000 for the CSXT  Trade
                                        Receivables  Master  Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               April 25, 2000           Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        April 25,  2000 for the CSXT  Trade
                                        Receivables  Master  Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               May 25, 2000             Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        May 25, 2000 for the CSXT Trade
                                        Receivables  Master Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

                                      -6-

<PAGE>



               June 26, 2000            Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        June 26, 2000 for the CSXT Trade
                                        Receivables  Master Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               July 25, 2000            Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        July 25, 2000 for the CSXT Trade
                                        Receivables  Master Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               August 25, 2000          Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        August 25,  2000 for the CSXT Trade
                                        Receivables  Master  Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               September 25, 2000       Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        September 25, 2000 for the CSXT Trade
                                        Receivables  Master Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               October 25, 2000         Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        October 25, 2000 for the CSXT Trade
                                        Receivables  Master  Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

               November 27, 2000        Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        November 27, 2000 for the CSXT Trade
                                        Receivables  Master Trust 6.00% Trade
                                        Receivables Participation  Certificates,
                                        Series 1998-1.

               December 26, 2000        Submitted a copy of  Certificateholders'
                                        Distribution  Date Statement dated
                                        December 26, 2000 for the CSXT Trade
                                        Receivables  Master Trust 6.00% Trade
                                        Receivables Participation Certificates,
                                        Series 1998-1.

          (c)  Omitted pursuant to the No-Action Letter.

          (d)  Omitted pursuant to the No-Action Letter.

                                      -7-

<PAGE>

                                   SIGNATURES
                                   ----------

     Pursuant to the  requirements  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.

                                          CSXT TRADE RECEIVABLES MASTER TRUST

                                     By:   CSX TRADE RECEIVABLES CORPORATION

                                          /s/  DAVID H. BAGGS
                                          -------------------
                                          David H. Baggs
                                          President , Treasurer
                                           (Principal Executive Officer)


Date:  March 28, 2001



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

     Signatures                         Title
     ----------                         -----

     David H. Baggs                     President, Treasurer, and Director
                                          (Principal Executive Officer) (a)

     David A. Boor                       Chairman of the Board, and Director (a)

     Allen C. Goolsby, III               Director (a)

     Leslie A. Grandis                   Director (a)



(a)       /s/  ELLEN M. FITZSIMMONS
          -------------------------
          Ellen M. Fitzsimmons, Attorney-in-Fact
                                March 28, 2001

                                      -8-
<PAGE>

                                  EXHIBIT INDEX
                                  -------------


Exhibit
-------

  24.1    Powers of Attorney of Messrs.  Baggs, Boor, Goolsby,  and Grandis as
          Directors and/or Officers of CSX Trade Receivables Corporation.

  99.1    Annual  Certificate of Servicer with respect to the CSXT Trade
          Receivables  Master Trust 6.00% Trade Receivables Participation
          Certificates,  Series 1998-1, prepared by CSXT pursuant to Section
          3.06 of the Agreement.

  99.2    Report of independent  auditors with respect to the CSXT Trade
          Receivables  Master Trust 6.00% Trade Receivables  Participation
          Certificates,  Series  1998-1,  prepared by Ernst & Young LLP pursuant
          to Section 3.07 of the Agreement.

                                      -9-