For years, policymakers in both parties have raised questions about taxes on Social Security. Still, eliminating them could create problems for future beneficiaries.

To see if they'll apply to you, you have to calculate your combined income, which is the total of your adjusted gross income, 50% of your annual Social Security income, and any non-taxable income you receive (for example, interest payments from municipal bonds, which are always federally tax-exempt).

Find out how the Trump administration's proposed elimination of Social Security income taxes could affect your retirement finances and the program's long-term stability.