We examined rates of bullying and victimization among children identified as gifted who were in transition from elementary to middle school in a Southern U.S. school district. We also investigated levels of distress associated with bullying and victimization. Our results indicated that the fourth graders, before transition to middle school, reported a significantly higher prevalence of bullying compared with the fifth graders, following transition. We also found significant, strong correlations between victimization and levels of internalizing and total distress, and between bullying and levels of externalizing distress. We discuss the implications of our findings in terms of the need for protective factors and intervention services for children who are gifted and children in general education classrooms.