Here's why:
* As an acid: It can donate a proton (H⁺) to form the hydrogen phosphate ion (HPO₄²⁻):
H₂PO₄⁻ + H₂O ⇌ HPO₄²⁻ + H₃O⁺
* As a base: It can accept a proton (H⁺) to form phosphoric acid (H₃PO₄):
H₂PO₄⁻ + H₂O ⇌ H₃PO₄ + OH⁻
Whether dihydrogen phosphate acts as an acid or a base depends on the surrounding solution and its pH.