Depending on the state you may beable to do it.
As a pistol/ handgun very illegal as you are not allowed to have a handgun over .5 caliber.
the 50 S&W and other .50s that are being $50 tax stamp my be required. When I was in College the 14" entry guns were the rage and in VA it was possible to own them with the tax stamp, in other states where class 3 is not allowed you can not do it.
Then there is the whole legal thing about you registering it as a long gun and you will not beable to turn that frame into anything other than a long gun. You are legally allowed to make a long gun out of a pistol but not allowed to make a pistol out of a long gun.