The present study examined the effect of socioeconomic status, race, and age differences in children’s vulnerability to depression, negative life events, inferential styles, and attributional styles. The relationship between parent-child depression and attributional/inferential styles as also assessed. There were no significant race differences between younger African-American and Caucasian children in depression scores or attributional style. However, younger African-Americans had the highest mean depression score and experienced more negative events than any other group. There was a between group effect of race and age within participants qualifying for free and reduced lunch, wherein, younger African-American children were significantly more likely to report depression than older Caucasians. Within participants not qualifying for free and reduced lunch, younger African-Americans had significantly lower internality scores than older African-Americans or older Caucasians. Although an interaction of attributional/inferential style with stress was not found for older African-Americans or older Caucasians who qualified for free and reduced lunch, this interaction was found to predict depression in older participants not qualifying or free and reduced lunch, and in both SES groups of younger Caucasians. Children’s depression scores, internality scores, and an inferential style concerning the self were all significant correlates to parents’ depression level. Parent’s attributional style was not found to correlate with children’s attributional style or inferential style. However, when analyzed between race-age and SES groups, parents’ attributional style dimension(s) correlated with children’s attributional style dimension(s) in all groups except for younger Caucasians qualifying for free and reduced lunch, and older Caucasians not qualifying for free and reduced lunch.