The 75-year-old actress discussed on Thursday's episode of Watch What Happens Live how she lost the lead role in the 1981 movie to Streisand, 78.
Anderson brought up All Night Long after she was asked if there is a role she's turned down that she regrets.
"No. There's some roles I've lost that I'm very sad about, but not ones that I've turned down," the star said.
"There was a fabulous movie that Gene Hackman did with Barbra Streisand. I was tested, and it was right down to the wire and I thought I was gonna get it. Then, Barbra decided that she wanted to do it," she added.
"Yes, that's true," Anderson said with a laugh.
Anderson then denied she once maxed out Reynold's American Express credit card.
"No, I never had an AmEx from Burt. I only had my own, so no. That would be completely false," she said.
Anderson and Reynolds split in 1993 after five years of marriage. The pair have one son, Quinton.