This paper investigates how caregiving responsibilities and perceived fairness affect psychological functioning, mediated through two aspects of family functioning, cohesion and conflict. Participants included 199 middle school Latinx students (M age = 13.8) who identified as immigrants (79%) or children of immigrants (21%). Over the course of this 1-year longitudinal study, significant decreases in psychological distress were related to adolescents’ reports of greater fairness in their family responsibilities. This association was mediated by higher levels of family cohesion and lower levels of conflict. This finding was consistent with prior research that conceptualizes filial responsibility as a positive contributor to psychological development. Implications and future directions in research should consider these dynamics to provide more in-depth knowledge about the Latinx experience for practitioners and policymakers.