You need to...
1. Remove old corner bead (probably not well fastened)
2.Put on new corner bead, fastening well
3. Tape, mud, prime paint
You also need to remove the short segment of tape (the area without corner
bead), retape, mud, prime & paint it.
I doubt your pot rack did that. Looks more like foundation movement to me, and if it were my
house, I think I might want a structural engineer to have a look. There's a LOT more going
on there than just "a crack in the drywall".
Is that a skylight shaft above? It looks like
there was faulty construction building that.
Hard to know not seeing the site. But it's
possible you can make a permanent fix. Scrape
off what's sticking up and loose. Then use
fiberglass mesh tape to span the crack. Then
use Durabond 90 as a first coat. It's like flexible
plaster of paris. Very hard. Then finish with
joint compound and sand it or sponge it.
It doesn't work as well to use normal joint
compound for all layers because it has no
strength. It's not much more than a chalk
deposit. Spackle is similar. The newer lightweight
spackle is pretty good, but it's still not made
for strength. It will usually re-crack over time.
The joint tape acts like rebars in concrete and
won't re-crack in most situations.
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