The answer is two generations.
In the alternation of generations, there is alteration between two generations - haploid gametophyte and diploid sporophyte.
Gametophyte produces haploid gametes which fuse to form a
diploid zygote. Therefore, gametophyte reproduces with gametes. The zygote
grows into diploid sporophyte which produces haploid spores. Sporophyte
reproduces with spores, and new gametophyte develops.
