Transparency for windows forms textbox

I'm using windows forms in C# and I need to make a textbox's background color transparent. I have a trackbar that goes from 0 to 255 that is supposed to control it, but I'm having some trouble. I created a question earlier today asking the exact same thing, but no success.

Here is the code I currently have:

private void trackAlpha_ValueChanged(object sender, EventArgs e)
{
    newColor = Color.FromArgb(trackAlpha.Value, colorDialog.Color.R, colorDialog.Color.G, colorDialog.Color.B);
    colorDialog.Color = newColor; // The Windows dialog used to pick the colors
    colorPreview.BackColor = newColor; // Textbox that I'm setting the background color
}

The problem is that absolutely nothing happens. Any ideas on why this is not working?

On the previous question, this nice guy said something about SetStyle(ControlStyles.SupportsTransparentBackColor, true);, but I have no idea on where I should put this.