Do you think Trump cheated on his tax returns?

The implications that you can deduce from the CNN story about the NYT article (I do not read The NY Times) is that Trump either cheated on his tax returns or was such a bad businessman that he made no income at all!

Both of these conclusions are incorrect in my opinion. Tax laws are too complicated for CNN correspondents to grasp. Here is a sort of admission of that fact:
https://www.cnn.com/2020/09/28/politics/tax-law-101/index.html

Here, in a nutshell, is my analysis. I am not an accountant and my only experience is with my own tax returns.

Net Operating Loss (NOL) in a business and/or real estate can be used to wipe out income from other sources. Once the NOL wipes out current year income, it can be carried forward for some number of years to offset income in those years. What I did not know and am still not clear about is what happens if the business and real estate holdings are in LLCs or Subchapter S corporations.

To me, The NY Times story (as reported by CNN) clarifies three points:

1. Trump utilized every tax break available to him.
2. Trump did not cheat.
3. There was a good reason to not release his tax returns.

What do you think?