Hi M2iChances,
Welcome! There is no real consensus about what to tell your kids when. I suppose it depends on the child and the situation. My gifted kids know but its not like I had a sit down talk with them, but for my eldest it was obvious that she was a lot smarter than even the other "smart" kids. We told the younger one because she would say that she is not the smart one. Our response "Girl, please, you are gifted too." Personally, I tell them they are gifted but that is only one part of them. Character matters much more and what matters is what you do with your gifts.
In my own experience, the more data you have going in the better and know the policies of the area that you are in. I started asking for smaller things first such as allowing my daughter to work in a workbook when she was done with her work and built up to a grade skip. Ultimately, however we brought our two gifted kids home to homeschool.
