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.

Item 3.
Legal Proceedings.* None
Item 4.

Item 4.
Submission of Matters to a Vote of Security Holders.* None
PART II
Item 5.

Item 5.
Market for Registrant's Common Equity and Related Stockholder Matters.*
Registrant, on behalf of the Partnership reports that as of December 31, 1996 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.

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 1996 and ending October 1996 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 the Series 1994-1 Certificates issued and outstanding by Deutsche Floorplan Receivables Master Trust.
Similarly, the Partnership has filed reports on Form 8-K for the months of November 1996, December 1996 and January 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 Series1996-1, 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, for the months of November 1996 and December 1996, 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 	 President and Treasurer 	 Date:	March 26, 1997
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 26, 1997	 Senior Vice President & Controller Deutsche Floorplan Receivables, Inc., General Partner
/s/ Richard C. Goldman				 March 26, 1997 Director Deutsche Floorplan Receivables, Inc., General Partner
/s/ C. Don Brown					 March 26, 1997		 Director Deutsche Floorplan Receivables, Inc., General Partner
/s/ Phil Stout					 March 26, 1997	 Director Deutsche Floorplan Receivables, Inc., General Partner
EXHIBIT INDEX 	Incorporated by reference to 	 Exhibit in Registration No. Title Statement 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
28	 Information from reports furnished to 	 state insurance regulatory authorities		 Not Applicable
99	 Additional Exhibits					 Filed Herewith 	(i) Accountants' Annual Report			 as EX-1