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This paper analyzes the patterns of incorporation of Latino/a immigrant generations into the American class structure. For that purpose, we use Current Population Survey data to construct a model of the American class structure and analyze the position of different Latino/a generations within that class structure. Our analysis reveals a complex picture that combines some intergenerational improvement and pervasive inequality. We find that the children of immigrants enter a racialized class system that features stable patterns of between- and within-ethnoracial-group inequality. Our study points to the centrality of the racial and class structures for the immigrant experience.