ALL THE PREVIOUS ADVICE IS BOGUS AND ILLEGAL FOR THE MOST PART!
I have been in a similar situation. Lock the gun up with your other guns. Go to the pistol licensing office and explain the situation. They will run the serial number through the computer to see if it is a crime gun (listed as stolen, etc).
If it isn't a crime gun, they will put it on your license for you. If it is they will want you to turn it in. It's simple. I think they charged me about $10.
Cutting it up, smuggling it across state lines will get you in trouble with the law.
Now that I have given my advice, let me tell you one more thing. Never take legal advice from someone you don't know on the internet. Research it yourself or ask an attorney.
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