In this study we examined whether the effects of ELS on anhedonic symptoms were moderated by individual differences in reward-related VS reactivity in young adults. We further examined whether the interaction of VS reactivity and ELS indirectly predicted other depressive symptoms through its effects on anhedonia as well as problematic alcohol use through anhedonia and substance-related coping. Three primary findings emerged. First, after accounting for other depressive symptoms and recent stressful life events among other covariates, a VS × ELS interaction arose; individuals with relatively blunted VS reactivity to reward and elevated exposure to ELS reported greater anhedonic symptoms (Fig. 2). Second, we found that this interaction indirectly predicted other depressive symptoms as well as problematic alcohol use (Figs 3 and 4) suggesting that susceptibility to stress-related anhedonia may have transdiagnostic implications. Third, we found additional evidence in an expanded sample that even after accounting for ELS, recent stressful life events and reward-related VS reactivity is associated with anhedonia, consistent with our prior report (Nikolova et al. 2012); of note, however, after accounting for covariates this relationship was reduced to a trend and was not present in the right hemisphere as previously reported.