The coronavirus disease (COVID-19) pandemic has negatively impacted the well-being of many college students, particularly lesbian, gay, bisexual, transgender, queer, and questioning (LGBTQ+) students who are already at a disproportionate risk for negative mental health and well-being outcomes. To identify potential risk and protective factors we examined LGBTQ+ college students' disclosure of sexual orientation, gender identity, or both (SOGI) to mothers and fathers, living arrangements (whether or not students lived with mothers and fathers), social support from family and friends, and parent-child relationship quality and their association with stress, depressive symptoms, anxiety symptoms, and problem drinking during the pandemic. LGBTQ+ college students (N = 366; M age = 20.4) completed an online survey. Students who reported more social support from family and friends and better quality relationships with mothers or fathers had better well-being and were less likely to perceive a substantial decrease in their well-being due to the pandemic. In contrast, SOGI disclosure and whether or not students lived with mothers or fathers were generally unrelated to well-being. Findings suggest that universities should consider offering mental health resources for students living on-and off-campus, and that clinical professionals should consider strategies to help these young adults identify and maintain support systems and highlight the value of positive parent-child relationships.