Power loss and black smoke?
I had a similar issue to this after I got in a VERY small fender bender (literally) in an 87 Turbo Supra. In my case, my pasenger fender got pushed in JUST enough to crack a charge pipe and cause a boost leak.
Basically, what was happening was the turbo would spool and build boost, the mass fair flow sensor would read all this air coming in and tell the ECU to dial up the the appropriate amount of fuel. When the air reached the cracks in the charge pipe, it would escape out of them. Thus there was a much lower air-to-fuel ratio, causing less fuel to combust, which lead to power loss and black smoke out of the exhaust.
My guess is either an oxygen sensor, or more likely a boost leak.
Good luck mate.
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