Can you paint fabric (a headboard) with latex paint?

Yes you can use latex paint, but you will need a fabric medium (might be available at Michael's, Amazon for sure). Here's the."How to":

https://www.thekimsixfix.com/2014/05/how-to-paint-upholstery-latex-paint-and.html

You would need to seal it with wax or poly only if you used chalk paint. Chalk paint chips off easily without a protectant of some sort.

If you add fabric medium it should work.

Hello. I use a fabric medium applied with label proportions with all my household acrylic or craft paints. Rustoleum does sell an aerosol fabric paint it that’s not very cost effective.

I found this idea for you using latex paint with a medium added

https://graceinmyspace.com/painted-diy-upholstered-bed-frame-makeover/#:~:text=Another%20option%2C%20and%20the%20one,be%20used%20on%20wearable%20fabrics.&text=I%20prefer%20this%20method%20because,to%20any%20color%20you%20want.

https://vintagerevivals.com/epic-room-makeover-tufted-headboard/

Several ways to paint fabric from other Hometalkers

https://www.hometalk.com/search/posts?filter=paint%20fabric

This may help: https://www.hometalk.com/diy/bedroom/furniture/painted-fabric-headboard-bright-pink-to-calm-gray-43451299

Hi Jamie, here's a video of painting upholstery fabric. There are other youtube videos available too.

https://www.youtube.com/watch?v=K4_UlTrXqRE

Yes you can: https://www.youtube.com/watch?v=WWfCSY1PwZY

No but water it down a little so it sticks do a small spot on the bottom see how it dries if you like it go for it