Alpha Channel issues

So I am able to take a plane and apply and alpha channel to it. It appears cut out correctly in the viewer. But when I put something behind it, it’s acting like the alpha doesn’t exist. It renders with the alpha correctly, but this makes it really hard to animate when I can’t see my alpha images correctly. Any tips?

Hi, is this about the 3ds Max or C4D version?
Could you post example images of what you are getting?