I just read through this thread more carefully and realized that he has been assessed in both reading and math, but I will keep my response the same as I wrote above. Again, I’d think about how far ahead he is and if your school can accommodate that. We moved when my daughter was starting middle school and did switch her to a private school because the public school was pretty bad and she was doing math that she had done 2 years earlier. 
Make sure to understand what the high school path looks like as well. I went to a not terribly rigorous high school - so when I advanced through classes faster, I ran out of classes to take - ran out of Math, ran out of English, ran out of Social Sciences and Science. Which is why I can take shorthand - I needed to fill an hour. If I lived in the city, it wouldn’t have been a problem, I’d have gotten early release to leave the building and take classes at the University. But as a kid in the boonies, there wasn’t public transportation to get me to such a place, and I didn’t drive yet…so shorthand. And drafting. And then early graduation and starting college early as soon as I could drive and a new semester started.
My daughter will run out of Spanish having skipped a year of it and will graduation with a year of college credit Spanish even running out.
I was skipped a grade, did not enjoy the experience. Being younger and smaller than everyone else cancels out whatever benefits skipping a grade might bring in my opinion.
They made me skip year 2, because they thought I was bored. In fact I was upset because my parents were divorcing.
It was for me disastrous, as it meant I was the youngest, and so smallest, boy in my year for the entire remaining 10 years of my school career. In all-boys schools. You can imagine what that meant in terms of bullying.
I cannot emphasize enough how horrible this is for a boy.
Well we met with the gifted teacher/councilor and they said he couldn’t skip 2nd grade. While he would probably be at a normal level in 3rd grade, their goal with skipping students is to have them still be advanced in their new grade.
That’s probably why they don’t skip students a lot, which makes me feel better. He’s smart, but not super-duper smart.
They did suggest we move from the year-round track he’s on (which only has one class per grade) to one that has several classes per grade so he could be in a class with other gifted kids.
Thanks for helping us talk this out while we were in limbo.
They discussed it with my parents, because as a first grader, I had been in a combination 1st/2nd grade class, and that teacher complained that I never did my 1st grade work because I was too busy knocking out the 2nd grade work.
Then I got to 2nd grade proper and was bored out of my skull for the first what is it, nine weeks? Whatever the marking period is. After that, I dunno, maybe the difference in teacher, teaching style? Something clicked, and I settled down.
They opted to leave me where I was, because my social skills weren’t great. I was super-shy and introverted, and really small for my age, and they were afraid I’d be eaten alive in junior high when I got there at the right age, much less a year early. I didn’t…quite…but I think it was the right decision.
But it depends on the kid.
I was skipped from 1st to 4th grade. Intellectually, it was absolutely the right thing to do. As a bored only child, my mother had taught me to read, write, spell, etc. long before I started school. I was horribly bored in 1st grade and was becoming a behavior problem because of it.
Emotionally, it stunted my development instead of accelerating it. I was an only child, living in a neighborhood with very few children. My social skills weren’t good to begin with, and thrusting me into a class with children 2-3 years older than I was, served to isolate me completely for quite some time. No one was actively mean to me, but no one wanted to be friends with someone so much younger, either. I eventually became very close to my classmates, but it took several years for that to happen.
I was tall and very athletic, so upon cursory inspection, I didn’t look ‘wrong’ for my class. It was, in fact, through sports that I finally earned acceptance and made friends.
As an adult, there were some holes in my abilities due to the skip - I couldn’t write in cursive (that was taught in 2nd grade), I never quite caught up in math, having missed fractions and multiplication entirely (3rd grade curriculum). No effort was made to go back and catch me on the skills I’d missed. I was expected to just pick them up as I went along.
Due to my age, I remained immature socially. I turned 16 a few weeks after my high school graduation and wasn’t allowed to go out on a date until senior year.
After long and serious consideration, I allowed my older son to be skipped from 3rd to 5th grade. He was very bright, an excellent student, a natural leader and we had delayed him a year in starting kindergarten because he was on the younger end of the allowable spectrum.
I’ve asked him, as an adult now, if he had issues from his skip and he said he’d had very few. Like me he was very tall and athletic and unlike me he was popular with his peers. It probably helped that we moved and he changed schools the summer before the skip. No one other than his teachers was aware of the skip.
So it can be a success (my son) or a partial success (me), but at least in our cases, it wasn’t a failure. It is very much something that should be considered on a case by case basis.