Not enough information provided to properly answer your question. Sorry.
Age? the answer for 7 will be different than for 17.
Public, private, or home school? At IQ = 158 I'd seriously be thinking public school is not the best option.
Supportive school?
Supportive family?
Time/money to enrich outside of school and school year?
Attitude of the kiddo?
Based only on the IQ number, you could easily be looking at multiple skips (2, 3, more?, 2 + early entrance to college + early entrance to K, etc.). My DD recorded a lower IQ than your child's and she easily handled 2 1/2 skips (the half skip was taking three classes for HS credit in 8th grade). She also could have graduated a year early had she wanted to. But... she had lots of support from her schools, lots of outside of school enrichment, no maturity issues, and a good overall attitude. Your mileage may vary.
Best of luck,
--S.F.
