Turbo problems... I think

I recently bought a 87 supra turbo with the m7-gte and off and on i have been having problems accelerating, the boost gauge will show that i have boost but the car will lose alot of power all of the sudden and put out a funny smell, as long as the turbo doesnt come on, there is no problem.

Funny smell? Like unburnt gas, burnt oil, burning coolant, rotten eggs? Also pull the codes and post them up here. Could be any number of things but my first guess is the knock sensors.