Individuals with a minority sexual identity, such as lesbians, gay men, and bisexuals (LGB) face increased risk for stigmatization surrounding their sexual identities and subsequent psychological distress. Sexual minorities of color (SMOC) face the same difficulties faced by White sexual minorities, often compounded with stigma and discrimination linked to their racial/ethnic identities. However, because SMOC remain underrepresented in research on LGB issues, empirically-driven knowledge about these groups is lacking, even among outcomes where noted disparities exist, such as depression. Emerging adulthood may be a particularly important period for understanding effects of intersectional identities and discrimination among SMOC, who often navigate identity-related milestones and experiences independently for the first time within this developmental period. This study examined the relationships between discrimination based upon racial/ethnic and sexual intersecting identities and depression symptoms among emerging adults, as well as ways that group identity factors (ethnic identity, sexual identity, conflicts in identity allegiances) moderated this relationship. Findings indicated that experience of intersectional discrimination was strongly, positively related to depression symptoms. Ethnic identity negatively related to depression independently, but not in the regression model accounting for other variables. Identity factors were not found to statistically significantly moderate the relationship between discrimination and depression symptoms. Discussion …