Yes, it is executed when there is an overlap.

Tested with

float x = 1.0f;
float y = 1.0f;
float oWidth = 5.0f;
float oHeight = 5.0f;
//draw plane
float xTwo = 0.0f;
float yTwo = 0.0f;
float oTwoWidth = 10.0f;
float oTwoHeight = 10.0f;

I just don't know why the drawcollision_one() function does not execute when there is an overlap it also outputs the collision string to the screen  using cout and the "collision" string. here is my test code.

void coll_plane_one()
{
	//draw bullet
	float x = -2.5f + move_plane;
	float y = -75.0f + up;
	float oWidth = 5.0f;
	float oHeight = 5.0f;
	//draw plane
	float xTwo = -10.0f + move_plane;
	float yTwo = 100.0f + down;
	float oTwoWidth = 20.0f;
	float oTwoHeight = 20.0f;

	if (checkCollide(x, y, oWidth, oHeight, xTwo, yTwo, oTwoWidth, oTwoHeight) == 1)
	{
		drawcollision_one();
		cout << "Collision" << endl;
	}
}

here is my up and down functions 

void shoot()
{
	up++;
	if (up >= 175.0f)
	{
		up = 0.0f;
		glutIdleFunc(NULL);
	}
	glutPostRedisplay();
}

void timer(int v)
{
	down--;
	if (down <= -180.0f)
	{
		down = 0.0f;
	}
	glutPostRedisplay();
	glutTimerFunc(50, timer, 0);
}

hey anyone do you have input on my question?

well it does not work, I have tried using the cout command and it outputs "collision" to the screen but it does not draw the animated sprite to the screen. the problem is probably in the drawcollsion_one() function It looks like it should work  but when the bullet hits the enemy plane it just passes through it but  does not draw the collision animated sprite. 

I like that you use OpenGL now. But it is legacy/deprecated OpenGL. You should use OpenGL 3. I like to use OpenGL with C#. You can start with this step-by-step OpenTK instruction: https://opentk.net/learn/chapter1/1-creating-a-window.html