The 19-year-old actress admitted in the September issue of Seventeen that she and the 26-year-old singer aren't exactly best friends, despite outward appearances.
"I think people think we spend a lot more time together than we actually do!" the Pitch Perfect 2 star confessed before adding, "She's amazing, though."
Steinfeld appeared in Swift's "Bad Blood" music video with several other members of the singer's "squad" and walked the red carpet with the star at the Billboard Music Awards and MTV Video Music Awards in 2015. She also appears in posts on the singer's Instagram.
"I'm so lucky to be able to call some of my favorite artists and human beings my friends," the actress previously told Refinery 29. "[We enjoy] relaxing and catching up and being ourselves and doing what makes us feel good."
"I have found that I'm rarely at the same place at the same time as my friends," she said of Swift and her other celebrity pals. "It's exciting and it makes it much more of a thing when we're all together."
Steinfeld, who is known for the movies True Grit and Ender's Game, is also an aspiring singer who released her debut album in November. The record, Haiz, includes the singles "Love Myself" and "Rock Bottom."