An investigation of Latino and non-Latino college students sought to examine the ways in which perceived intergenerational conflicts with parents are related to acculturation, family dynamics, and psychosocial functioning. Participants reported the extent to which they experienced two types of intergenerational conflicts with parents: values/expectations conflicts and acculturation conflicts such as their parents' perception that they are "too American". First- and second-generation Latinos reported experiencing more acculturation conflicts than third-generation Latinos and European Americans or African Americans. Regression analyses within the Latino sample indicated that both types of conflicts with parents were predicted by acculturation variables, lower family cohesion, and increased family control. Both types of conflicts were significant predictors of depression and lower self-esteem, even after controlling for generation status and family variables. (Contains 5 tables.)