The 'Everything Has Changed' hitmaker and the One Direction hunk - who dated over a year ago - came face-to-face at the The Weinstein Company's bash at the Montrose Hotel in Beverly Hills, and decided to put their difference a side by having a friendly 10-minute chat.
A source told the Daily Mirror newspaper: ''They both realised that they're obviously going to keep bumping into each other at showbiz events, so they might as well make it civil between them.
''They broke up over a year ago, so there's no reason why they shouldn't just keep things friendly between them when they see each other.''
The pair - who were sat on separate tables at the party - have attempted to avoid each other over the past 12 months after their romance took a turn for the worse when Taylor, 24, walked away from their luxury trip to the British Virgin islands.
Meanwhile, Harry, 19, has most recently been linked to reality TV star Kendall Jenner, but their short relationship came to an end after their demanding work commitments got in the way.
A source said previously: ''Kendall has been focusing on her modelling and Harry is preparing for work on the band's fourth album, as well as their stadium tour.
''The reality is that with everything they both have going on it's impossible to sustain anything serious.''
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