You can use a different Return Address on your labels than your Ship From Addresses
Adding a Different Return Address: To add a Return Address that's different from your Ship From Address, navigate to Settings > Ship From Addresses. Once there, unselect the checkbox marked "Use this address as the Return Address on my shipping labels." You can then add a Return Address that is different from your Ship From address!
Here's a screenshot to show you where to find that checkbox:
Your Physical Address is Used to Calculate Postage Costs: When you add a different Return Address, the cost of your labels will still be calculated from your Physical Address, but any undeliverable packages will be sent to your Return Address.
Changing Return Addresses on UPS labels
Returned UPS Packages Go to Your Default Ship From Address: You can change the return address for UPS labels, but if the package gets returned to you, it will be sent to the "default" Ship From Address you have selected in your Settings > Ship From Addresses.
Learn more about where returned UPS packages get delivered.
You can't create a label without a return address
Return Addresses are Required: Unfortunately, there's no way to remove a Return Address from your shipping labels if you'd like to conceal where you are sending packages from. The only real workaround here is to use a different Return Address to show on the label instead of your Ship From Address 😉
Learn how to change or edit your Ship From Address.
Additional Resources