I think many kids find K boring, It is the worst grade because half of the kids entering never had any reinforcement from home so the teachers spend a lot of time going over the basics. I think you will find that 1st grade is a litte better. If she was tested by the school I think it safe to assume that they will have a special class or program for the gifted. Your school should have a gifted councelor who can help out in that department.
IQ generally means that your child has a high level of reasoning skills and can learn things quickly.
We recently learned that our child was gifted as well and our gifted councelor reccommended that we do enrichment activities with her at home like music, games, and science experiments. She also told us that academics are not the only area a gifted child needs to be challenged in. Good luck and happy learning!