We examined Italian 7- to 9-year-olds’ understanding of the connective but when used to relate two events in sentences embedded in short stories. Performance was largely accounted for by the cognitive complexity of the sentence that included the connective and the salience of its meaning (confirmed in a second study with adults). Additional influences on children’s performance were the category of the story in which the critical sentence was embedded and the child’s text comprehension abilities. Further, by 9 years of age, performance resembled that of adults. These findings make an advance in explaining the role of information presented in a text at different levels and an individual’s linguistic abilities in children’s understanding of the connective but in stories and its development.