A three barrier resonant tunneling structure in which the two quantum wells are formed by a magnetic semiconductor is theoretically investigated. Self-consistent numerical simulations of the structure predict giant magnetocurrent in the resonant bias regime as well as significant current spin polarization for a considerable range of applied biases. The requirements for large magnetocurrent are spin resolved resonance levels as well as asymmetry (spatial or magnetic) of the coupled quantum wells. (c) 2006 American Institute of Physics.