Your first and third screenshots look fine. It looks like you have everything set up correctly. However, carriage returns aren’t recognized in a list like you are showing in your second screenshot. It will only respect the carriage returns in components like text or rich text. A list will attempt to remove the carriage returns and show as much text as it can in the limited space that it has. Your best best is to try to utilize all of the Data and Overlays settings for the list to try to get everything to display how you want.
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Otherwise you could play around with some CSS manipulation to see if you can get the text to wrap.